As Portland’s economy continues to bounce back, office leasing volume rose in the third quarter to its highest level since 2013. In one of the largest office leases in metro history, ZoomInfo committed to approximately 366,000 SF of future space at Terminal 1 along the ongoing Vancouver Waterfront development. The company will move its corporate headquarters to the location sometime in 2025.

Portland’s office inventory has grown by 7.6%, versus nationally indexed growth of 5.4% over the past decade. Additionally, Portland’s structurally low vacancy rates, dynamic economy, and strong cumulative rent growth have heightened the metro’s profile as an investment market. The latest market report has more data about the current market trends.

If you are interested in a more detailed report, you may want to check out the 2022 Global Predictions from CoStar Group’s Advisory Services, Risk Analytics, Market Analytics, and STR sharing 75 predictions for 2022.

It’s always a good time to be proactive and think creatively about your business needs. If you have any questions about your lease, or curious about your options, send me an email, or call me to discuss your concerns, I am here to help.